david brooks is away tonight. mark what do you make of that fannie mae story? >> well, the -- for home ownership is something i can recall president clinton speaking about it, president bush speaking about it, how important it was, a measure of achievement in the country. but as you go to the story of fannie mae, what it comes down to is they privatized profit. in other words, whether it's the investor. but they socialize losses. in other words, everybody else in the country picks up the tab when it doesn't, when it goes under. that is really --. >> lehrer: while you're making money yourself. >> you're making money, it's mine. >> lehrer: but if i lose t it's yours, government. >> it's yours, taxpayers. and i think that's a really bad public policy. >> lehrer: michael? >> well, it's still also the political context in which everyone's operating right now. as far as i know the president didn't have anything to do with this. but the bursting bubble of the housing market has really undermined confidence in the whole economy. we've had a larger percentage fall in ho